Following persisting representation from MEXA, the Trade Promotion and Marketing Scheme (TPMS) has been extended under some more favourable conditions.
- For the first time the scheme has been extended for a period of 2 years from 1st July 2020 up to June 2022, instead of one year. This will undeniably provide more visibility to our clients.
- The TPMS will be eligible for all products of exports, except Live animals, Machinery and Chemicals.
- The country coverage has been extended not only to EU and USA but to a wider range of countries including Africa, Japan, Australia, Canada and Middle East Countries.
- The TPMS will also cover air exports to Africa, including Madagascar, for both Textiles & Non Textiles Products.
- There will be a capping per market per company to allow fair distribution of the fund.
Details of the scheme:
- Duration and effective date of exports: 1st July 2020 to 30th June 2022.
- Eligible markets:
- Africa (including Madagascar)
- Middle East Countries
- Capping per company per market:
A maximum refund limit of Rs.30 Million per company for exports over a 12-month period will be applied under the TPMS consisting of the following capping:
- Rs10 Million to Europe
- Rs10 Million to USA; and
- Rs10 Million to destination regrouping Africa (including Madagascar), Australia, Canada, Japan, and Middle East Countries
Note for exports effected during the period 24th March 2020 to 30th June 2020:
- As you are aware the TPMS was scheduled to expire end March 2020. However, in the “Plan de Soutien” announced by the Ministry of Finance on 13th March 2020, it was stated that the TPMS will be extended to existing markets and additional markets.
- We would hereby like to highlight that only the existing 11 eligible products will be entitled for refund under the TPMS during the period 24th March 2020 to 30th June 2020 for the EU, USA and additional markets, including, Africa, Japan, Canada, Australia, and Middle East Countries.
- List of 11 Export product eligible under the TPMS for the period 24th March 2020 to 30th June 2020 as follows:
- Textile and Apparel, Jewellery, Medical Devices, Articles of Leather, Footwear, Watches, Fabric Plush Toys, and producers/exporters of vegetables, fruits, flowers and chilled fish.